The Credit Memo - February 2005

Volume I, No. 2

The Credit Memo highlights several significat changes affecting business bankruptcies - or business creditors in the case of individual bankruptcies. It is published on an ongoing basis by Seyfarth Shaw LLP's Bankruptcy, Workouts and Business Reorganization practice group.

This month's newsletter focuses on:

• The Power and Limitations of the Recoupment Doctrine
  • What is Recoupment?
  • Setooff vs. Recoupment
  • The Power and Limitations of Recoupment
  • The "Same Transaction" Requirement
  • Counsel Should be Consulted to Ascertain the Existence of Recoupment Rights